‘As promised’: Elon Musk confirms Tesla’s India entry with 2-word tweet
Tesla CEO Elon Musk has confirmed the company’s plans to enter the Indian market, within days of the electric vehicle maker registering its arm in the country.
“As promised,” Musk tweeted in response to a thread linked to a blog that analysed how India could still be a market to be developed for Tesla cars despite its high prices.
Earlier this week, it emerged that US electric car maker Tesla has registered its Indian arm amid indications that the company is set to enter the country’s automobile market.
According to a regulatory filing, the firm has registered Tesla India Motors and Energy Pvt Ltd with Registrar of Companies (RoC) Bangalore.
The company has been registered as an unlisted private entity with a paid-up capital of Rs 1 lakh.
Vaibhav Taneja, Venkatrangam Sreeram, and David Jon Feinstein have been appointed as directors of Tesla India, as per the RoC filing.
The company is reportedly in talks with five states as it explores feasibility of setting up its manufacturing unit and research and development (R&D) centre in India.
Last month, Union Minister Nitin Gadkari said Tesla is set to start its operations in the country in 2021 and would also look at setting up of a manufacturing unit based on demand.
Tesla had been linked with homegrown auto major Tata Motors for a possible partnership but the latter has denied such a plan.
In November last year, Musk confirmed on Twitter replying to a fan who asked about the progress of the company’s India entry plans saying, “Yea..Next year for sure”.
Musk had however in the past also used the Twitter platform announcing the company’s intention to enter India.
In 2019 also, replying to a Twitter query, Musk had said that he “would love to be there this year. If not, definitely next!”
But, in 2018, he had cited as reasons the challenging regulatory environment for not being able to enter India.
Earlier, the Maharashtra government had said it is looking for potential investment from Tesla in the state and has held discussions with the company.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
